McGrath RentCorp (NASDAQ:MGRC) Stock Rating Lowered by StockNews.com

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

Several other equities analysts also recently commented on MGRC. CJS Securities assumed coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 price target on the stock. Oppenheimer increased their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a report on Friday, November 22nd.

McGrath RentCorp Price Performance

NASDAQ:MGRC traded down $0.95 during mid-day trading on Friday, reaching $113.54. The stock had a trading volume of 103,716 shares, compared to its average volume of 183,131. The business's 50 day moving average is $119.27 and its 200 day moving average is $114.61. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93. The stock has a market cap of $2.79 billion, a P/E ratio of 12.04, a PEG ratio of 1.35 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The company had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. Equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

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Insider Activity

In related news, Director Kimberly Ann Box sold 1,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company's stock, valued at $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in McGrath RentCorp by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider's stock worth $304,836,000 after purchasing an additional 29,467 shares during the period. River Road Asset Management LLC lifted its holdings in shares of McGrath RentCorp by 52.1% during the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock valued at $212,116,000 after acquiring an additional 649,567 shares during the period. Franklin Resources Inc. lifted its holdings in shares of McGrath RentCorp by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider's stock valued at $134,091,000 after acquiring an additional 87,329 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of McGrath RentCorp by 11.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider's stock valued at $102,610,000 after acquiring an additional 97,290 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of McGrath RentCorp by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider's stock valued at $88,198,000 after acquiring an additional 50,674 shares during the period. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.